Analysis: Larry Summers done in by critics

10:03 PM,
Sep. 15, 2013

Larry Summers has withdrawn his name from consideration for Federal Reserve chairman.

Written by

Tim Mullaney
Gannett

For Larry Summers, two camps of rivals apparently proved to be one too many.

Everyone knew liberals didn't want the former Treasury secretary to be President Obama's pick to chair the Federal Reserve. They were sore about his remark as Harvard's president that women were less likely to excel at science. And they were suspicious of his role in Clinton-era financial deregulation -- especially the decision barely to regulate financial derivatives at all. That loosed a monster called the credit-default swap that forced the $85 billion bailout of AIG five years ago this weekend, and nearly ...